Twitter to List on NYSE; Revenue More than Doubles

Tuesday, 15 Oct 2013 06:12 PM

 

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Social networking website Twitter Inc said on Tuesday it would list its stock on the New York Stock Exchange, dealing a blow to the tech-heavy Nasdaq which bungled rival Facebook's initial public offering.

In an amended IPO filing, Twitter updated its financials and user figures along with expanded details of investors.

Twitter sustained its pace of revenue growth in the third quarter, more than doubling its third quarter revenue to $168.6 million.

But the company widened its net loss to $64.6 million in the September quarter compared with $21.6 million a year earlier.

Twitter also said it has 230 million monthly active users, up from about 218 million when the company first disclosed its S-1 filing on Oct 3.

The red-hot company had been aggressively wooed by both exchanges but analysts had predicted that Facebook's debut, which was marked by a series of technical glitches that delayed the start of trading, could weigh against the Nasdaq.

"This is a decisive win for the NYSE. We are grateful for Twitter's confidence in our platform and look forward to partnering with them," said Scott Cutler, head of NYSE's listings business.

© 2014 Thomson/Reuters. All rights reserved.

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